Incorrect RESC reported on payment summary

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Karen F
Karen F Member Posts: 13 ✭
edited February 2017 in Reckon Accounts (Desktop)
Hi Reckon, I have taken over the accounting function at my firm and had a look at PAYG payment summaries prior the the end of finanacial year. An employee receives SAL SAC super along with the employer contribution of 9.25%. Unfortunately the employee was set up so that the total of super (both sal sac and SGC) are lumped together and therefore the total is reported as RESC on the payment summary. How can I amend the payroll reporting for end of year? Would a once off payrun essentially reporting a negative item for Sal Sac and balancing item to SGC work? Thanks

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  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Karen,

    Welcome to the Reckon Community.

    Unfortunately you will need to edit each pay and split the Super between a Super Salary Sacrifice item (SS) and a Super Guarantee item (SA).  

    There is a second problem.  By including the Super Guarantee in a Salary Sacrifice item, you have reduced Gross Payments for calculation of PAYG tax.  When you split the Super into the two items, the amount of tax will increase.  You will need to over-write the amount of tax back to the originally charged amount so that the Net Pay remains at what was originally paid and there is no change to the amounts of PAYG already forwarded to the ATO.

    You should talk to your accountant on the implication of this action and any other actions that you may need to take.   

    Hope this helps,

    regards,
    John



  • Karen F
    Karen F Member Posts: 13 ✭
    edited June 2016
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    Thanks John. I had thought editing each pay was necessary but thought I'd check before I go through the process. Looks like I'll have a couple of "fun" hours coming up.
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Good luck with the process, Karen.

    Unfortunately there is no short-cut to this one. 


    regards,
    John

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